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Budget 2013: Fair work receives funding to tackle workplace bullying

The Fair Work Commission has been given $21.4 million over the next four years to fund legal remedies for victims of workplace bullying.

A recent report by the Productivity Commission has highlighted the significant impact of bullying in the workplace, which could cost an estimated $36 billion in productivity each year.

The Fair Work Commission is set to begin hearing bullying complaints from 1 July 2013- although the accompanying Fair Work Amendment legislation is yet to pass through Parliament.

Following the proposed legislation, the Fair Work Commission will have the power to intervene in bullying cases where the complaint could not be resolved between the parties involved.

Small businesses will be updated by business groups in regards to the bullying requirements in the lead up to 1 July.

Posted on 15 May '13 by , under General News.

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What to consider when consolidating your super

The ATO reported that 45% of working Australians were not aware that they had multiple super accounts in 2016. Having multiple super accounts is particularly common for individuals who have had more than one job. If this is you, it is important to identify and manage your super accounts because having more than one can be costly as a result of account fees from multiple funds.To combat this, you may want to consolidate your super, which moves all your super into one account. Not only does this save on fees, but it also makes your super easier to manage and keep track of.

Before consolidating your super, it is important to do the following:

Research your funds' policy
Compare your active super accounts so you can make the right choice about which one you should close. Things to assess include:

  • Exit fees
  • Insurance policies
  • Investment options
  • Ongoing service fees
  • Performance of the funds

Check employer contributions
Changing funds may affect how much your employer contributes, as some employers contribute more to certain funds. Check your current accounts to see if changing funds will affect this. Once you have selected a super fund, regardless of whether you choose a new super fund or one of your existing ones, provide your employer with the details they need to pay super into your selected account.

Gather the relevant information
When consolidating your super, you will need to have the following details ready:

  • Your tax file number.
  • Proof of identity. This could include your driver's license, birth certificate or passport.
  • Your fund's superannuation product identification number (SPIN).
  • Your fund's unique superannuation identifier (USI).
  • Details of your previous fund.

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